Banks achieve 65% agriculture loan target for fiscal by Dec. 2024
The Hindu
Telangana banks achieve 64.75% of agri loan target, disburse ₹58,791 crore, urge to enhance credit flow to priority sectors.
Banks in Telangana achieved 64.75% of the agriculture loan target for the fiscal in the first three quarters, ended December 2024, with ₹58,791 crore disbursement, the State Level Bankers’ Committee numbers on the performance for last quarter showed.
Agri loan or the short term production loan target for financial year 2024-25 is ₹90,795 crore. It comprises ₹54,480 crore for the Kharif crop season of which the banks achieved almost 82% with ₹44,438 crore disbursement. The remaining ₹36,315 crore target is for Rabi of which banks achieved 39.52%, per numbers shared by the SLBC at its 44th quarterly review meeting (for December) here recently.
State Bank of India (SBI) Hyderabad Circle Chief General Manager Rajesh Kumar made a presentation on the performance at the meeting, in which Deputy Chief Minister and Finance Minister Mallu Bhatti Vikramarka and Agriculture Minister Tummala Nageswara Rao and senior officials participated. Banks in Telangana also disbursed ₹49,964 crore as investment credit to agri allied; agri infra and agri ancillary activities, achieving 81.56% of the targets, he said.
Total deposits of the banks increased by ₹36,915 crore and stood at ₹8,16,868 crore, while total advances went up ₹74,865 crore to touch ₹10,53,924 crore. CD ratio continues to be above 100% and maintained at 129.53% at the end of the quarter, SLBC said in a release.
Banks disbursed education loans totalling ₹487 crore and home loans of ₹2,781 crore under Priority Sector during the current financial year thus far. The disbursement to micro, small and medium enterprises (MSME) segment was ₹1,00,862 crore, achieving 77.80% of the target, it said.
Addressing the meeting, Mr. Bhatti Vikramarka urged banks to be benevolent and enhance credit flow to agriculture, weaker sections and self help groups (SHGs). He favoured an increase in the number of micro enterprises that are credit linked and the banks to increase exposure in priority sector lending with a focus on support to schemes being formulated by Social Welfare departments.
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